Diplomacyindia.com

Vistara reports net profit, crosses $1bn revenue mark in FY23

Vistara reports net profit, crosses $1bn revenue mark in FY23
January 23
20:45 2023

New Delhi, Jan 23 (IANS) Vistara, a joint venture of Tata Sons and Singapore Airlines, has reported a net profit (excluding unrealised foreign currency loss and non-operating income) for the quarter that ended December 2022.

The airline crossed the $1 billion revenue mark and remained EBITDA positive in the current fiscal year and reported break-even for the first time in the quarter.

Vistara on Monday said that it delivered remarkable results for the first time since its inception in 2013.

The airline achieved its highest ever domestic market share of 10.4 per cent in July 2022 and maintained its position as the second largest domestic airline in India since then, flying more than 11 million passengers in the calendar year 2022.

Vistara also registered a 11 per cent year-on-year growth in the member base for its frequent flyer program, Club Vistara.

Vistara grew its international network by over 180 per cent in 2022, by adding seven additional routes including three new destinations (Jeddah, Abu Dhabi and Muscat).

It also grew its domestic network by over 50 per cent, by adding six new routes including two new destinations (Coimbatore and Jaipur).

For the quarter ended December 2022, the airline grew its capacity by 37 per cent and passengers by 47 per cent compared to the same period last year.

The airline recorded the second highest on-time performance at four key metros and over 85 per cent domestic load factor for most of the year in 2022.

This year, Vistara became the only Indian airline to be featured in Skytrax’s list of World’s Top 20 airlines.

The airline currently has over 5,000 employees and operates close to 8,500 flights per month.

Vinod Kannan, Chief Executive Officer, Vistara, said: “With significant network and fleet expansion and sustained growth over the last few months, 2022 has been a phenomenal year for Vistara in terms of our operational and financial performance. Each member of the Vistara family is incredibly proud of our collective achievements in an extremely challenging business environment that included the third wave of pandemic and escalating costs. We are now aiming for higher goals as we enter the next phase of our growth journey.”

Vistara has augmented its operations from its hubs Delhi and Mumbai, and currently operates more than 75 and 50 daily domestic departures from the two cities, respectively.

With delivery of 10 aircraft and re-delivery of eight aircraft, the airline expanded its fleet size to 53 in 2022, said the airline.

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment

<

On the Eve of 30th Years of Independence of Republic of Uzbekistan, H.E. Dilshod Akhatov, Ambassador of Uzbekistan to India in conversation with Ameya Sathaye, Editor-in-Chief.

Denmark Ambassador to India Freddy Svane in conversation with Amb Pradeep Kapur & Ameya Sathaye, Editor-in-Chief

Italy india will work closely together for G20 : Italy Envoy to India

Do you know why FINLAND is ranked number ONE in Happiness index, watch this interview with Finland Ambassador to India

Exclusive Interview : H.E. Jasem Ibrahem Al Najem Ambassador of Kuwait to India speaks on India Kuwait bilateral relations

ड्रैगन ने हाथी को क्यों डसा, भारत- चीन रिश्तों की कहानी- रंजीत कुमार के साथ अमेय साठे की विषेष चर्चा ड्रैगन ने हाथी को क्यों डसा, भारत- चीन रिश्तों की कहानी- रंजीत कुमार के साथ अमेय साठे की विषेष चर्चा 0 comment Read Full Article

H.E. Reuben Gauci, Ambassador of Malta to India speaks on India-Malta Bilateral Relations

Portugal supports India in covid crisis : Portugal Ambassador Carlos Pereira Marques speaks with Ameya Sathaye, Editor-in-Chief

Vietnam Ambassador to India, Pham Sanh Chau speaks on Vietnam support to India in tackling covid crisis

Netherlands supports India in covid crisis : Netherlands Ambassador Marten van den Berg speaks with Ameya Sathaye

Envoy Speaks : Gopal Baglay, Indian High Commissioner to Sri Lanka speaks on Bilateral relations, business opportunities, Tourism & people to people to people contacts

Kuwait reciprocates, we stand with India in this hour of crisis : Kuwait Ambassador to India

Canadian High Commissioner, Nadir Patel speaking on support to India in covid crisis

Italian Ambassador to India, Vincenzo de Luca speaking on Italy support to India in covid crisis

H.E. Mr. Reuben Gauci, Malta High Commissioner to India speaks with Ameya Sathaye, Editor-in-Chief of Malta support to India in covid crisis

Danish Ambassador to India Freddy Svane speaking on Denmark aid to India

Video Interview with Vinod Daniel, CEO, India Vision Institute, Board Member, International Council of Museums & Chairman, Ausheritage

DENMARK AMBASSADOR FREDDY SAVNE VISIT TO CORONOVIRUS VACCINE FACILITY AT HYDERABAD, A TRIP ORGANISED BY MINISTRY OF EXTERNAL AFFAIRS, GOVT OF INDIA FOR FOREIGN ENVOYS BASED IN INDIA.

MALTA HIGH COMMISSIONER TO INDIA, H.E. REUBEN GAUCI SHARING HIS IMPRESSION ABOUT HIS VISIT TO HYDERABAD : TRIP ORGANISED BY MINISTRY OF EXTERNAL AFFAIRS, GOVERNMENT OF INDIA FOR ENVOYS BASED IN INDIA TO UPDATE ON CORONAVIRUS VACCINE

H.E. Mr. Dinesh Bhatia, Ambassador of India to Argentina in conversation with Ameya Sathaye, Editor-in-Chief

Pictures of Formal Launch of Website Diplomacyindia.com

Exclusive Interview with Prime Minister of Guyana, H.E. Mr. Moses Veerasammy Nagamootoo during his recent visit to India.Highlights of the interview were Indian Cultural Connect, Vibrant Bilateral Ties and Cultural Connect and India’s Economic Prowess.

Video Message from Shri Prakash Javadekar, MoS (IC) for Forest, Environment & Climate Change on eve of Formal Launch of Website Diplomacyindia.com

Message from Gen. V K Singh, (Retd.) Hon’ble MoS, External Affairs to Diplomacyindia.com

WP2Social Auto Publish Powered By : XYZScripts.com